February 8

“Little incentive for China to implement Fatca”

If anyone had any guess China would go along with FATCA, forget it. As noted in Risk.net, China has little incentive to comply with FATCA (the Foreign Account Tax Compliance Act) or to sign an intergovernmental agreement (IGA) with the U.S. In fact, Beijing has every incentive – and ability – to tell Washington to get lost. Even if other governments are deluding themselves (or trying to delude their citizens), Chinese authorities have figured out that FATCA and IGAs are a bad deal for the ...

 

- Letter to Treasury Secretary Lew from Congressman Bill Posey

- Letter to Treasury Secretary Geithner from Senators Rand Paul, Jim DeMint, Mike Lee, and Saxby Chambliss